Default is a conscious and destructive decision

October 20, 2013

Since, as a nation we have a monetary debt, we should responsibly discharge that debt. We have the capability to pay not only the periodic interest, but a portion of the principal as well, every month.

Our average monthly revenue coming into the U.S. Treasury is $190 billion; the monthly interest on the U.S. debt is approximately $18.3 billion. Easily done; the money is available for debt service, if we prioritize the debt service and cut some of the waste out of the budget.  Imagine our national credit rating if we just made regular payments of both interest and principle.

If you or I as individuals told our banker that we had plenty of income coming in, but we were not going to pay anything on our credit cards or our mortgage, but rather wanted the credit limit expanded; we would most likely have all of our credit withdrawn and incur the wrath of our spouse; to the point of divorce.

Thus, to refuse to pay our nation's debts when the people have provided the resources and to continue to scatter those resources, appropriated by taxes from the people, is fiscally and morally irresponsible.

To not pay our debts is a conscious decision, completely unwarranted, and a dereliction of a duty incumbent with the administration of the business of this land. Is it not time for a divorce of this unacculturated vagrant who seems bent on destruction of anything wholesome or honest in this country.

Carl R. Smink

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